KUALA LUMPUR: MAA Group Bhd yesterday announced that its audited losses for the financial year ended June 30, 2023 was 100.3 per cent more, at RM1.42 million, compared with the unaudited losses of RM0.71 million announced on August 28, 2023.
In a filing with Bursa Malaysia Securities Bhd, the group said the difference was due to an adjustment made on a subsidiary's right-of-use (ROU) asset.
Depreciation of ROU asset was previously capitalised in the fourth quarter financial year ended 2023 unaudited financial results, but now reflected as a loss.
The group's share price opened four per cent higher at 46.5 sen today, with some 432,100 shares changing hands.